How blockchain will transform our cities

Kevin Lancaster

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How blockchain will transform our cities

Many trends on the horizon offer opportunities that could transform our cities. From self-driving vehicles and the sharing economy through to cloud computing and blockchain technologies, each of these trends is quite significant on its own. But the convergence of their disruptive forces is what will create real value and drive innovations.
 

das Toktokken

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Some issues to iron out... the ledger will grow exponentially when it's used in production, where does it reside again? :)
 

HeftyCrab

Expert Member
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Mar 26, 2009
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Slightly confused. In the linked article it says in step 4 something like the block is broadcasted to the entire network for verification. Wont this put exponential strain on the network as it grows?
 

das Toktokken

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Slightly confused. In the linked article it says in step 4 something like the block is broadcasted to the entire network for verification. Wont this put exponential strain on the network as it grows?

Yep, it's not only broadcast but stored.
 

netcruiser

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Some issues to iron out... the ledger will grow exponentially when it's used in production, where does it reside again? :)

Why would a linear increase in data cause an exponential increase in storage? Every byte is only stored once.
 

Messugga

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Not really. Only those that need the whole blockchain store it. Most users can transact on the blockchain without needing the whole blockchain.
How is it decided who needs the whole block chain? I thought one of the main principles behind a distributed ledger is that everyone has a copy of it, partially so that they can verify what's going on with it? I always thought that this exposing your personal transactions to other people, for example, could be viewed as an invasion of privacy.
Being able to break a ledger into smaller blocks would solve that, but wouldn't that inevitably end up with someone controlling it and end up with the same issues as the current banking system?
 
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